In the past, financing a business involved investing your retirement assets, or mortgaging your house in order to borrow money from a bank, or borrowing money from your friends and relatives, or doing a private placement security offering and soliciting money from accredited investors. None...
Read MoreRead MoreTax debts can be crippling; they often snowball out of control with penalties and interest. And while many prefer to ignore their growing income tax debt, rather than attempt to deal with the taxing authority, the IRS and other taxing authorities are not your typical...
Read MoreRead MoreThere are numerous important tax changes taking effect in 2015. Some are the result of the Tax Increase Prevention Act of 2014 (TIPA) and other tax legislation. Others are triggered by effective dates in regulations, rulings and other IRS guidance. This article highlights certain non-inflation-indexed...
Read MoreRead MoreOn July 31, 2014, President Obama signed the “Fair Pay and Safe Workplaces Executive Order” (“Executive Order”), which imposes new obligations on employers who contract with the federal government. Beginning in 2016, prospective contractors subject to the Executive Order...
Read MoreRead MoreOhio Employers may be receiving another pleasant surprise in the mail beginning around November 7, 2014. The BWC will begin to send out checks to employers as part of the “Another Billion Back” program proposed in August. Ohio employers will receive another $1 billion rebate and...
Read MoreRead MoreAlthough the economic down turn may finally be behind most businesses, it has changed the landscape in ways that can often continue to take away from a business’s bottom line. Conversely, the down turn also created some opportunity, one being to make sure that a...
Read MoreRead MoreMany small business owners scrimp and save and invest everything they have in their business. If they work hard and avoid disasters, the business grows and they eventually sell their business for a lot of money. But this strategy has some obvious pitfalls. Despite their...
Read MoreRead MoreAfter a recent U.S. Supreme Court ruling, Clark v. Rameker, many fear their inherited individual retirement accounts may not be protected from creditors in bankruptcy. Fortunately, for those living in Ohio, this ruling may not impact you. When Congress created the federal bankruptcy exemptions, it...
Read MoreRead MoreRecently I was involved in a construction case which, quite typically involved multiple parties and multiple phases and/or scopes of work. As the parties gathered to attempt to mediate the case, and the Plaintiff’s claimed damages continued to grow. One common plea advocated by a...
Read MoreRead MoreWhen an ownership interest in a partnership (or LLC taxed as a partnership) is transferred to a member in exchange for services, the tax consequences of such transfer are governed by partnership tax law. Ownership interests in partnerships can be profits interest, capital interests or...
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